Buyers need to determine what type of goodwill the book has. The goodwill constitutes 90% of the sales price. However, personal goodwill, as opposed to commercial goodwill, can significantly reduce the seller’s asking price because customers may have developed a strong relationship with the seller and may not want to continue dealing with the buyer.<\/p>\n\n\n
\u201cJust think if your dentist sold his practice to someone else and how quickly you would rush to that new dentist,\u201d O’Connor said. \u201cYou need to look at how the buyer will be able to acquire these customers from the seller.\u201d<\/p>\n\n\n
One solution, suggested by O’Connor, is for the buyer to negotiate for the sales advisor to stay on for at least six months during the transition period.<\/p>\n\n\n
Buyers should expect to sign a non-disclosure agreement, along with a non-compete clause, a non-disclosure clause and an order stating that the information disclosed will not be used for their own benefit, O’Connor says.<\/p>\n\n\n
O’Connor recommends that buyers, in turn, enter into a standstill agreement, which is a document stating that the seller cannot transact with anyone else while negotiating with the buyer. \u201cI’ve seen deals where people look at a purchase and the seller uses all that information to pass it on to someone else and use it strategically to get a better price.\u201d<\/p>\n\n\n
If at any point discussions do not match the seller’s initial description of the book, a potential buyer should not hesitate to bail, O’Connor says. \u201cDon’t let misplaced pride color your judgment.\u201d <\/p>\n\n\n
\u2022 \u2022 \u2022<\/p>\n\n\n
Composed by Deanne Gage, <\/i>Advisor’s Edge, dgage@rmpublishing.com.<\/i><\/p>\n\n\n
(17\/06\/03)<\/i><\/p>\n\n<\/div> Buyers need to determine what type of goodwill the book has. The goodwill constitutes 90% of the sales price. However, personal goodwill, as opposed to commercial goodwill, can significantly reduce the seller’s asking price because customers may have developed a strong relationship with the seller and may not want to continue dealing with the buyer.<\/p>\n\n\n \u201cJust think if your dentist sold his practice to someone else and how quickly you would rush to that new dentist,\u201d O’Connor said. \u201cYou need to look at how the buyer will be able to acquire these customers from the seller.\u201d<\/p>\n\n\n One solution, suggested by O’Connor, is for the buyer to negotiate for the sales advisor to stay on for at least six months during the transition period.<\/p>\n\n\n Buyers should expect to sign a non-disclosure agreement, along with a non-compete clause, a non-disclosure clause and an order stating that the information disclosed will not be used for their own benefit, O’Connor says.<\/p>\n\n\n O’Connor recommends that buyers, in turn, enter into a standstill agreement, which is a document stating that the seller cannot transact with anyone else while negotiating with the buyer. \u201cI’ve seen deals where people look at a purchase and the seller uses all that information to pass it on to someone else and use it strategically to get a better price.\u201d<\/p>\n\n\n If at any point discussions do not match the seller’s initial description of the book, a potential buyer should not hesitate to bail, O’Connor says. \u201cDon’t let misplaced pride color your judgment.\u201d <\/p>\n\n\n \u2022 \u2022 \u2022<\/p>\n\n\n Composed by Deanne Gage, <\/i>Advisor’s Edge, dgage@rmpublishing.com.<\/i><\/p>\n\n\n (17\/06\/03)<\/i><\/p>\n\n<\/div> Buyers need to determine what type of goodwill the book has. The goodwill constitutes 90% of the sales price. However, personal goodwill, as opposed to commercial goodwill, can significantly reduce the seller’s asking price because customers may have developed a strong relationship with the seller and may not want to continue dealing with the buyer.<\/p>\n\n\n \u201cJust think if your dentist sold his practice to someone else and how quickly you would rush to that new dentist,\u201d O’Connor said. \u201cYou need to look at how the buyer will be able to acquire these customers from the seller.\u201d<\/p>\n\n\n One solution, suggested by O’Connor, is for the buyer to negotiate for the sales advisor to stay on for at least six months during the transition period.<\/p>\n\n\n Buyers should expect to sign a non-disclosure agreement, along with a non-compete clause, a non-disclosure clause and an order stating that the information disclosed will not be used for their own benefit, O’Connor says.<\/p>\n\n\n O’Connor recommends that buyers, in turn, enter into a standstill agreement, which is a document stating that the seller cannot transact with anyone else while negotiating with the buyer. \u201cI’ve seen deals where people look at a purchase and the seller uses all that information to pass it on to someone else and use it strategically to get a better price.\u201d<\/p>\n\n\n If at any point discussions do not match the seller’s initial description of the book, a potential buyer should not hesitate to bail, O’Connor says. \u201cDon’t let misplaced pride color your judgment.\u201d <\/p>\n\n\n \u2022 \u2022 \u2022<\/p>\n\n\n Composed by Deanne Gage, <\/i>Advisor’s Edge, dgage@rmpublishing.com.<\/i><\/p>\n\n\n (17\/06\/03)<\/i><\/p>\n\n<\/div> Buyers need to determine what type of goodwill the book has. The goodwill constitutes 90% of the sales price. However, personal goodwill, as opposed to commercial goodwill, can significantly reduce the seller’s asking price because customers may have developed a strong relationship with the seller and may not want to continue dealing with the buyer.<\/p>\n\n\n \u201cJust think if your dentist sold his practice to someone else and how quickly you would rush to that new dentist,\u201d O’Connor said. \u201cYou need to look at how the buyer will be able to acquire these customers from the seller.\u201d<\/p>\n\n\n One solution, suggested by O’Connor, is for the buyer to negotiate for the sales advisor to stay on for at least six months during the transition period.<\/p>\n\n\n Buyers should expect to sign a non-disclosure agreement, along with a non-compete clause, a non-disclosure clause and an order stating that the information disclosed will not be used for their own benefit, O’Connor says.<\/p>\n\n\n O’Connor recommends that buyers, in turn, enter into a standstill agreement, which is a document stating that the seller cannot transact with anyone else while negotiating with the buyer. \u201cI’ve seen deals where people look at a purchase and the seller uses all that information to pass it on to someone else and use it strategically to get a better price.\u201d<\/p>\n\n\n If at any point discussions do not match the seller’s initial description of the book, a potential buyer should not hesitate to bail, O’Connor says. \u201cDon’t let misplaced pride color your judgment.\u201d <\/p>\n\n\n \u2022 \u2022 \u2022<\/p>\n\n\n Composed by Deanne Gage, <\/i>Advisor’s Edge, dgage@rmpublishing.com.<\/i><\/p>\n\n\n (17\/06\/03)<\/i><\/p>\n\n<\/div> Buyers need to determine what type of goodwill the book has. The goodwill constitutes 90% of the sales price. However, personal goodwill, as opposed to commercial goodwill, can significantly reduce the seller’s asking price because customers may have developed a strong relationship with the seller and may not want to continue dealing with the buyer.<\/p>\n\n\n \u201cJust think if your dentist sold his practice to someone else and how quickly you would rush to that new dentist,\u201d O’Connor said. \u201cYou need to look at how the buyer will be able to acquire these customers from the seller.\u201d<\/p>\n\n\n One solution, suggested by O’Connor, is for the buyer to negotiate for the sales advisor to stay on for at least six months during the transition period.<\/p>\n\n\n Buyers should expect to sign a non-disclosure agreement, along with a non-compete clause, a non-disclosure clause and an order stating that the information disclosed will not be used for their own benefit, O’Connor says.<\/p>\n\n\n O’Connor recommends that buyers, in turn, enter into a standstill agreement, which is a document stating that the seller cannot transact with anyone else while negotiating with the buyer. \u201cI’ve seen deals where people look at a purchase and the seller uses all that information to pass it on to someone else and use it strategically to get a better price.\u201d<\/p>\n\n\n If at any point discussions do not match the seller’s initial description of the book, a potential buyer should not hesitate to bail, O’Connor says. \u201cDon’t let misplaced pride color your judgment.\u201d <\/p>\n\n\n \u2022 \u2022 \u2022<\/p>\n\n\n Composed by Deanne Gage, <\/i>Advisor’s Edge, dgage@rmpublishing.com.<\/i><\/p>\n\n\n (17\/06\/03)<\/i><\/p>\n\n<\/div> Buyers need to determine what type of goodwill the book has. The goodwill constitutes 90% of the sales price. However, personal goodwill, as opposed to commercial goodwill, can significantly reduce the seller’s asking price because customers may have developed a strong relationship with the seller and may not want to continue dealing with the buyer.<\/p>\n\n\n \u201cJust think if your dentist sold his practice to someone else and how quickly you would rush to that new dentist,\u201d O’Connor said. \u201cYou need to look at how the buyer will be able to acquire these customers from the seller.\u201d<\/p>\n\n\n One solution, suggested by O’Connor, is for the buyer to negotiate for the sales advisor to stay on for at least six months during the transition period.<\/p>\n\n\n Buyers should expect to sign a non-disclosure agreement, along with a non-compete clause, a non-disclosure clause and an order stating that the information disclosed will not be used for their own benefit, O’Connor says.<\/p>\n\n\n O’Connor recommends that buyers, in turn, enter into a standstill agreement, which is a document stating that the seller cannot transact with anyone else while negotiating with the buyer. \u201cI’ve seen deals where people look at a purchase and the seller uses all that information to pass it on to someone else and use it strategically to get a better price.\u201d<\/p>\n\n\n If at any point discussions do not match the seller’s initial description of the book, a potential buyer should not hesitate to bail, O’Connor says. \u201cDon’t let misplaced pride color your judgment.\u201d <\/p>\n\n\n \u2022 \u2022 \u2022<\/p>\n\n\n Composed by Deanne Gage, <\/i>Advisor’s Edge, dgage@rmpublishing.com.<\/i><\/p>\n\n\n (17\/06\/03)<\/i><\/p>\n\n<\/div>
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